House Insurance with lodgers

JA1000

I am in the process of renewing my house insurance and have declared that I am renting out rooms.

The cheapest quote went from £150 to £450, I increased the excess to £500 and it made £20 difference to £430.

Does anyone know any companies that do not penalise you for having a lodger?

Thanks

Bufger

Have you used price comparison websites? they would be your best data collection point as a start.

Owain_Moneysaver

Having lodgers significantly increases the number of strangers with access to your house, so most insurers will load the premiums heavily. A specialist broker or one of the lettings insurance websites might be a better bet.

JA1000

Yes and only one company returned a price, couldn't work out why at first so removed the 'living with lodgers' box then they all dropped in.

I could understand a slight price hike or an increase in excess but £300!!

dacouch

Having lodgers greatly increases the chances of claims, the types of claims can be theft by the lodger or their associates, vandalism by the lodger, water damage and accidental damage claims as people tend not to treat other peoples property with the same respect as their own.

The other issue is Liability, if one of your own family have an accident in the house it is unlikely they will sue you for injuries, if your lodger has an accident there is a fairly high chance they will sue you.

The above are why insurance for lodgers is generally higher

G_M

So you just have the one quote? Shop around by phone. Price comparison sites only work with bog-standard policies.

pinkshoes

When I had a lodger, I used Sheilas Wheels, and the quote was the same as the original quote. I just did an insurance quote for 2 people, and had to put the lodger's details in (i.e. occupation, date of birth etc...). Mine was a flat, so it was just contents insurance.

m1ntie

Hi

I have had lodgers for 7 years and was paying a fortune until I discovered Liverpool Victoria.

Give them a try

JA1000

Thanks for your responses, I am taking the risk on the lodgers and would therefore expect a higher excess I was just surprised at the significant increase even with the added risk.